Goolsbee Seeks More Evidence That Inflation Is Cooling Federal Reserve Bank of Chicago President Austan Goolsbee said he is encouraged by recent improvements in US inflation but wants several more

months of similar data before becoming confident that inflation is sustainably moving toward the Fed’s 2% target. He described inflation as his primary concern, while saying the US economy is “basically stable” in terms of growth and the labor market. Goolsbee supported keeping interest rates unchanged at the July meeting and remains cautious because inflation has stayed above target for an extended period. Recent softer inflation data, weaker July retail sales and relatively tepid hiring have alre

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